The most commonly asked question of realtors is the question that is on the minds of most buyers: Is this a good time to buy a house? The answer depends on a number of personal factors, but the general response in most cases is – yes. Experts will tell you that it’s nearly always a good time to buy a house especially in the aftermath of the housing bubble burst of last year -what goes down must come up.
Of course, the answer is also influenced by various factors. For instance, what is your reason for buying? If you’re buying with an eye to turning a quick profit, some experts suggest that you have about another five years before the current trend in falling house prices slows or evens off. This could mean that the best option is to buy a property in an up and coming area that you can live in as the market slowly but surely rebounds. Real Estate specialist, Alejandro Peraza says “The current housing market multiplies a buyer’s financial power and of course the cherry on top is the $8000 tax credit being offered to new homebuyers”

The Lofts @ Hollywood and Vine are a great option if you’re looking to buy your first property. The Lofts are a collection of singular full ownership urban residences located in the heart of Hollywood. Fully renovated in 2007, the building embraces the style of a Gothic Art Deco style and was originally built in 1929. The location once housed a Hollywood talent agency that represented the likes of Vivien Leigh, Laurence Olivier, Boris Karloff, Henry Fonda and many other icons from Hollywood’s early golden age. The building with its touch of old Hollywood character features an amazing level of finish and amenities including a marble lobby, 24 hour valet parking, a dedicated doorman, on-site dry cleaning and laundry and best of all a private landscaped roof garden and skydeck on the top floor. The building also benefits from 360 degree cityscape views of Los Angeles including landmarks such as the Capitol Records building and the Hollywood Hills and the legendary Hollywood sign. The lofts are sleek and art gallery inspired with clean lines in a study of contemporary elegance and feature lofty ceilings, concrete floors, Viking kitchen appliances, Ann Sacks tiles and much more. The Lofts @ Hollywood & Vine are located in the same neighborhood as the Arc Light Theatres and the Hollywood & Highland shopping center as well as all the nightlife and dining that Hollywood has to offer such as Katsuya, Boho and Geisha House. Granted, it’s true that overall, Hollywood boulevard has a negative reputation as a tourist trap in desperate need of a facelift but change has been taking place –slowly but surely. Another killer reason why The Lofts will skyrocket in price in the next few years: Luxury W Residences are being built directly across the street with features such as a helicopter landing pad on its roof which is very indicative of the high end customer that the W will be welcoming.

The question again is: Is now a good time to buy a house? The absolute bottom line is, of course it is but that is also depending on your own finances. If you’re in a position to support a monthly mortgage, if your credit is good enough to qualify for low interest rates, and if you expect to live in the house for at least five years, then you’re almost guaranteed a profit when you sell. The Lofts are surprisingly affordable with prices ranging from the mid $300,000’s to over $1,000,000. A tour through the building and you’ll be shocked at how low the prices are for what you get. The light at the end of the tunnel known as this economic mess are amazing deals like this however keep in mind that the time to act is now as The Lofts are already at half occupancy rate.